is BCC , the bitcoin cash, basically free, if you're holding BTC?

Hive account@xaero1 do you know? Or anybody? A little confused here.

I read it was a 1:1 so if you have 1 bitcoin you get 1 bitcoin cash. So doesn't that mean that BCC is basically free? Wouldn't it make since to acquire as many bitcoin as one could afford to purchase, before August 1st, so that one would also receive bitcoin cash?

Or is it working like, if you have 1 bitcoin ,valued at 2700$, you'll now have one bitcoin valued at $1350 And one BCC valued at $1350?

Anybody know??